Chile's trade surplus widened to USD 1,460 million in December 2019 from USD 259 million in the corresponding month of the previous year. It was the widest trade surplus since May 2014. Exports rose 1.3 percent to USD 6,644 million, as higher sales of agricultural, forestry & fishing goods (53.2 percent), mostly fruits (55.1 percent) more than offset decreases in those of mining products (-2.3 percent), of which copper (-2.7 percent) and gold (-13.4 percent) and manufactured products (-3.9 percent), namely processed salmon (-14.2 percent) and cellulose, paper and others (-28 percent). In contrast, imports slipped 17.7 percent to USD 5,184 million, as purchases fell for intermediate goods (-16.7 percent); consumption goods (-16.9 percent) and capital goods (-20 percent). Balance of Trade in Chile averaged 469.95 USD Million from 1991 until 2019, reaching an all time high of 2968.68 USD Million in April of 2007 and a record low of -1384.72 USD Million in October of 2008. source: Banco Central de Chile

Balance of Trade in Chile is expected to be 300.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Chile to stand at 100.00 in 12 months time. In the long-term, the Chile Balance of Trade is projected to trend around 500.00 USD Million in 2020, according to our econometric models.


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Chile Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
1460.00 110.00 2968.68 -1384.72 1991 - 2019 USD Million Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-07 11:30 AM Sep $-20M $140M $ 550M
2019-11-07 11:30 AM Oct $-310M $-20M $ -100M
2019-12-09 11:30 AM Nov $110M $-310M $ -35M
2020-01-07 11:30 AM Dec $1460M $110M $ 230M
2020-02-07 11:30 AM Jan $ 700M


News Stream
2019-12-09
Chile Trade Surplus Narrows in November amid Unrest
Chile's trade surplus narrowed to USD 110 million in November 2019 from USD 359 million in the corresponding month of the previous year. Exports dropped 12 percent to USD 5281 million, mainly due to lower sales of mining products (-9.5 percent), in particular copper (-8.7 percent); manufactured products (-15.7 percent), namely food (-13.2 percent), cellulose, paper & others (-38.3 percent), wood furniture (-32.6 percent), and beverages & tobacco (-10.3 percent); and agricultural, forestry and fishing (-6.7 percent), of which fruits (-4.7 percent). Imports declined 8.3 percent to USD 5171 million, mostly due to purchases of intermediate goods (-6.2 percent), in particular energetic products (-18.3 percent); consumption goods (-11.8 percent), mainly durable (-21 percent), other goods (-8.2 percent) and semi-durable (-1.9 percent); and capital (-6.9 percent).

2019-11-07
Chile Trade Gap Little-Changed in October
Chile's trade deficit decreased slightly to USD 310 million in October 2019 from USD 313 million in the corresponding month of the previous year. Exports sank 20.7 percent to USD 5,257 million, mainly due to lower shipments of mining products (-21.2 percent), in particular copper (-22.5 percent) and iron (-52.2 percent); manufactured products (-19 percent), of which food (-8.5 percent), chemicals (-13.1 percent), pulp, paper & others (-34.1 percent) and farming, forestry and fishing (-30.3 percent), mostly fruits (-33 percent). Imports slumped 19.7 percent to USD 5,654 million, amid reduced purchases of intermediate goods (-17.8 percent), namely petrol (-27.5 percent); capital goods (-20.6 percent), of which trucks & cargo vehicles (-34.8 percent), other machinery (-9.6 percent) and consumer goods (-22.3 percent), such as vehicles (-23.8 percent) and clothing (-8.1 percent).

2019-10-07
Chile Posts Smallest Trade Gap in Nearly 4 Years
Chile’s trade deficit narrowed slightly to USD 20 million in September 2019 from USD 23.4 million in the corresponding month of the previous year. It was the smallest trade gap since December 2015, as imports dropped 6.2 percent over a year earlier to USD 5,224 million mainly due to lower purchases of consumer goods (-12.9 percent); namely durable (-21.9 percent) and semi-durable (-9.2 percent); intermediate goods (-1.5 percent), in particular energetic products (-3.4 percent); and capital goods (-5.5 percent) led by trucks & cargo vehicles (-18.7 percent). Exports fell 6.1 percent to USD 5,205 million, mostly due to lower sales of mining products (-7.4 percent), of which copper (-4.2 percent); and manufacturing (-5 percent), mainly wood & wood products (-23.5 percent) and cellulose, paper & others (-32.7 percent).

2019-09-09
Chile Trade Balance Swings to Surplus in August
Chile recorded a trade surplus of USD 143 million in August of 2019 compared to a EUR 324 million deficit in the same month of the previous year. Exports dropped 4.5 percent to USD 5,952 million, the seventh straight month of decrease, dragged down by lower sales of manufacturing products (-14.4%), mostly food (-6.5%); chemicals (-14.4%); wood & wood products (-21.9%) and basic metals (-31.4%). In contrast, shipments of mining products rose (7.8%), particularly copper (10.3%) and molybdenum (4.4%). Meantime, imports fell 11.4 percent to USD 5,809 million, dragged down by lower purchases of consumer goods (-13.9%); namely both durable (-14.5%) and semi-durable goods (-17.3%); intermediate goods (-11.0%), of which crude oil (-46.3%) and carbon mineral (-31.1%); and capital goods (-6.7 percent).

2019-08-07
Chile Posts First Trade Gap in 9 Months
Chile recorded a trade deficit of USD 29 million in July 2019 compared to a USD 278 million surplus in the same month a year ago. It was the first trade shortfall since last October. Exports fell 4.6 percent to USD 5770 million, the sixth straight month of decrease, dented by lower sales of mining products (-9.5%), namely copper (-10%); iron (-10.2%) and silver (-51.3%). In contrast, shipments rose for manufactured products (1.1%), mostly food (4%); chemicals (3.2%); wood & wood products (8.8%); and agricultural, forestry & fishing goods (0.3%). On the other hand, imports went up 0.5 percent to USD 5799 million, after four consecutive months of decline, boosted by purchases of capital goods (12.2%), namely machinery for construction and mining (99.1%) and other machinery (10.3%). Meanwhile, imports fell for intermediate goods (-6.2%), of which diesel (-34%) and consumption goods (-5.8%), such as vehicles (-20.9%) and clothes (-13.8%).

2019-07-08
Chile Posts Smallest Trade Surplus in 6 Months
Chile recorded a trade surplus of USD 317 million in June 2019 compared to a USD 297 million surplus in the same month a year ago. It was the lowest trade surplus since December. Exports fell 15.6 percent to USD 5304 million, the most since December 2015, dragged down by lower shipments of mining products (-16.3 percent), namely copper (-14 percent); iron (-61.7 percent); silver (-14.6 percent); gold (-31.6 percent) and molybdenum (-32.7 percent). Sales also declined for manufactured products (-13.8 percent) and agricultural, forestry & fishing goods (-19.4 percent). Meantime, imports slipped 16.7 percent to USD 4986 million, the most since December 2015, amid falling purchases of intermediate goods (-20.6 percent); consumption goods (-18.3 percent) and capital goods (-1.1 percent).


Chile Balance of Trade
Chile has been recording trade surpluses since 1999, mostly due to a rise in shipments of copper. The most important non mineral exports are chemicals and metals, machinery and equipment , processed food, forestry and wood products, fresh fruit, salmon and wine. On the other hand, the country imports mostly energy products, chemicals, cars, apparel and machinery and equipment. Recently, the biggest trade surpluses were recorded with Japan and China while the largest trade gaps with Brazil, Argentina and the US.

Chile Trade Last Previous Highest Lowest Unit
Balance of Trade 1460.00 110.00 2968.68 -1384.72 USD Million [+]
Current Account -3145.00 -2603.00 3256.31 -5054.90 USD Million [+]
Current Account to GDP -3.10 -1.50 4.50 -14.00 percent [+]
Imports 5183.66 5171.00 7865.59 492.60 USD Million [+]
Exports 6644.04 5281.00 7760.56 644.40 USD Million [+]
External Debt 197702.82 197727.49 197727.49 2435.00 USD Million [+]
Capital Flows -3695.67 -4048.23 13891.49 -5487.39 USD Million [+]
Gold Reserves 0.25 0.25 35.96 0.21 Tonnes [+]
Terms Of Trade 96.03 96.79 122.50 58.80 points [+]
Terrorism Index 4.12 3.45 4.12 0.50 [+]
Tourist Arrivals 238301.00 269328.00 521425.00 50093.00 Persons [+]
Foreign Direct Investment -988.61 -2382.07 899.37 -6259.76 USD Million [+]
Crude Oil Production 3.00 3.00 13.00 2.30 BBL/D/1K [+]